Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$102,939.00
1.10%$3,259.10
-0.36%$3.11
0.13%$237.63
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4.16%$24.49
0.59%$35.20
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1.87%$0.00002005
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4.49%$3,444.93
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1.49%$0.436241
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5.07%$5.96
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3.38%$2.54
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0.78%$1.66
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24.21%$1.38
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5.61%$0.900984
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3.52%$3,361.86
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0.66%$0.090794
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0.22%$30.81
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0.95%$681.13
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0.10%$0.288637
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1.40%$0.998139
0.24%$1.63
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2.27%$1.00
0.08%$102,916.00
1.26%$0.150718
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1.39%$3.17
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0.44%$1.001
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0.03%$3,544.89
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0.90%$0.446696
1.29%$3,257.84
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2.50%$1.95
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1.70%$0.00928574
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0.80%$0.19463
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2.85%$3,255.62
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22.78%$18.65
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2.47%$2.85
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0.75%$0.370502
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2.81%$0.999638
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0.92%$22.12
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1.26%$0.00
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2.98%$102,543.00
1.04%$3,606.92
0.18%$0.341517
-1.70%$21.49
-6.35%$0.226455
-1.38%$0.677431
-1.62%Popular DeFi lending Aave (LEND) is booming once again today, after racking up a further 16.2% growth in the last 24 hours to reach its current value of $0.841.
Aave has been on an almost unrelenting uptrend for almost a year now, and has seen its price climb from $0.0043 a year ago, up to its all-time highest value of $0.862 earlier today. In total, this represents a gain of almost 20,000% in the last year—making LEND one of the best performing cryptocurrencies of all time.
LEND has also put on a strong performance in the short term, having gained 44.6% in the last week, 109.8% in the last fortnight, and 211.3% in the last 30 days. This growth positions Aave as the 21st largest cryptocurrency by market capitalization, with a market cap just north of $1.06 billion.
This growth appears to be a direct consequence of Aave's rapidly growing popularity as a DeFi lending platform—since the total value of cryptocurrencies locked up in the platform has multiplied more than ten-fold in the last two months. As per stats from DeFi Pulse, Aave is now the most successful DeFi platform with around $1.52 billion in cryptocurrencies locked in the protocol.
Aave isn't the only DeFi cryptocurrency to have shot through the roof this morning. Other smaller DeFi platforms including Serum (SRM) and YFII-Finance (YFII) have also gained more than 10% today. Reserve Rights Token (RSR) is up 7% since yesterday after being listed on Binance, whereas micro-cap DeFi asset OpenPredict (OPT) is up 38.6% in the last day.
Overall, there is now more than $7 billion in cryptocurrencies locked up in DeFi—a gain of more than 600% in the last 3 months. Another sign of a growing bubble.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.